Turnkey Office Park with Residential
For Sale
$3,300,000
245 Russell St, Hadley, MA 01035
Well-maintained office park offering divided office space plus a 2-bedroom, 1-bath unit for live or lease.
Property Size14,650 SF
Price / SF$225.26
Days on Market63
Property Features for 245 Russell St
General Information
Standard status
Active
Size
14,650 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$16,899
Building Details
Year Built
1998
Listing Agency:
William Raveis R.E. & Home Services
(781) 933-2500
Listed By:
Stiles & Dunn
Source:
Kiklisre
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 11 at 8:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This well-maintained office park in Hadley, MA is configured with divided office space totaling over 14,650 square feet, providing multiple separate work areas within the property. In addition to the office component, the offering includes a 2-bedroom, 1-bath residential unit, giving the owner an on-site housing option or the flexibility to lease the apartment to a tenant.
The property is located at 245 Russell St in Hadley, positioned between Amherst and Northampton. It is presented as a turnkey business opportunity, with the office park and residential unit combined into one ownership structure.
For tenants and operators, the divided office layout can support businesses that need distinct private spaces under one roof. For buyers, the combination of office space and an included residential unit can simplify property management by keeping both income components within a single asset. Financials are available upon request, supporting an informed review as part of the purchase process.
The property is located at 245 Russell St in Hadley, positioned between Amherst and Northampton. It is presented as a turnkey business opportunity, with the office park and residential unit combined into one ownership structure.
For tenants and operators, the divided office layout can support businesses that need distinct private spaces under one roof. For buyers, the combination of office space and an included residential unit can simplify property management by keeping both income components within a single asset. Financials are available upon request, supporting an informed review as part of the purchase process.
Key Highlights
- Well‑maintained office park built in 1998
- Over 14,650 sq. ft. of divided office space
- Includes a 2‑bedroom, 1‑bath residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$140,420
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,808,400
$2.8M
Cap Rate 7%
$2,006,000
$2.0M
Cap Rate 9%
$1,560,222
$1.6M
Market Conditions
NOI Build-Up for 14,650 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$249.6K $17.04/SF
− Vacancy
−$25.0K −$1.70/SF
EGI
$224.7K $15.34/SF
− OpEx
−$84.3K −$5.75/SF
NOI
$140.4K $9.59/SF
Area
Hampshire County, MA
Vacancy
10.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,808,400
Cap Rate 7%
$2,006,000
Cap Rate 9%
$1,560,222
Alternative Uses
Best Use
Office B
$6.57M
$5.75M – $7.67M
NOI $459,919 @ 7.0% cap · market cap 13.94%
Second Best
Mixed Use
$2.01M
$1.76M – $2.34M
NOI $140,420 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$8.92M
$7.81M – $10.41M
NOI $624,512 @ 7.0% cap · market cap 18.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 01035, MA
5,325
Population
2,293
Households
2.3
Avg Household Size
47
Median Age
63%
College-Educated
97%
High-School Grad
23.1 sq mi
ZIP Area
231
Density / Sq Mi
$117,580
Median Household Income
$64,118
Median Earnings
$1,682
Median Rent
$453,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office park offering divided office space plus a 2-bedroom, 1-bath unit for live or lease.
Where is this office units located?
The property is located at 245 Russell St Hadley, MA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Well‑maintained office park built in 1998; Over 14,650 sq. ft. of divided office space; Includes a 2‑bedroom, 1‑bath residential unit
